Shelly Cashman Excel 2019 Module 4: SAM Project 1b Ramos Family Home Purchase CREATE A LOAN ANALYSIS Author: Walt Richardson Shelly Cashman Excel 2019 | Module 4: SAM Project 1b Note: Do not edit this sheet

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Shelly Cashman Excel 2019 Module 4: SAM Project 1b

Ramos Family Home Purchase

CREATE A LOAN ANALYSIS

Author:

Walt Richardson

Shelly Cashman Excel 2019

| Module 4: SAM Project 1b

Note: Do not edit this sheet. If your name does not appear in cell B6, please download a new copy of

the file from the SAM website.

 

Note: Do not edit this sheet. If your name does not appear in cell B6, please download a new copy of

 

Scenarios

Bank 1

Bank 2

Bank 3

Loan Amount

#NAME?

$ 293,970

$ 337,500

Annual Interest Rate

4.40%

4.56%

4.56%

Monthly Interest Rate

0.37%

0.38%

0.38%

Loan Period in Years

30

30

20

Loan Period in Months

360

360

240

Start Date

1/5/2022

1/5/2022

1/5/2022

Monthly Payment

#NAME?

$ (1,500)

$ (1,500)

Future Value

#NAME?

$0.00

###

 

Page

4

of

4

Year:

2021

Loan Details

Loan Summary

Loan amount

$26,000.00

Scheduled payment

$589.50

Annual interest rate

4.21%

Scheduled number of payments

48

Loan period in years

4

Actual number of payments

13

Number of payments per year

12

Total early payments

#VALUE!

Start date of loan

2/1/2021

Total interest

$949.75

Total paid

$28,296.09

Optional extra payments

$120.00

Pmt No

Payment Date

Beg Balance

Payment Amt

Extra Payment

Total Payment

Principal

Interest

Ending Balance

Cumulative Interest

1

2/1/2021

$26,000.00

$589.50

$120.00

$709.50

$618.29

$91.22

$25,381.71

$91.22

2

3/1/2021

$25,381.71

$589.50

$120.00

$709.50

$620.45

$89.05

$24,761.26

$180.26

3

4/1/2021

$24,761.26

$589.50

$120.00

$709.50

$622.63

$86.87

$24,138.63

$267.13

4

5/1/2021

$24,138.63

$589.50

$120.00

$709.50

$624.82

$84.69

$23,513.81

$351.82

5

6/1/2021

$23,513.81

$589.50

$120.00

$709.50

$627.01

$82.49

$22,886.81

$434.32

6

7/1/2021

$22,886.81

$589.50

$120.00

$709.50

$629.21

$80.29

$22,257.60

$514.61

7

8/1/2021

$22,257.60

$589.50

$120.00

$709.50

$631.41

$78.09

$21,626.18

$592.70

8

9/1/2021

$21,626.18

$589.50

$120.00

$709.50

$633.63

$75.87

$20,992.55

$668.57

9

10/1/2021

$20,992.55

$589.50

$120.00

$709.50

$635.85

$73.65

$20,356.70

$742.22

10

11/1/2021

$20,356.70

$589.50

$120.00

$709.50

$638.08

$71.42

$19,718.62

$813.64

11

12/1/2021

$19,718.62

$589.50

$120.00

$709.50

$640.32

$69.18

$19,078.30

$882.82

12

1/1/2022

$19,078.30

$589.50

$120.00

$709.50

$642.57

$66.93

$18,435.73

$949.75

Car Loan

2/1/2021

3/1/2021

4/1/2021

5/1/2021

6/1/2021

7/1/2021

8/1/2021

9/1/2021

10/1/2021

11/1/2021

12/1/2021

1/1/2022

$0.00

$5,000.00

$10,000.00

$15,000.00

$20,000.00

$25,000.00

$30,000.00

$0.00

$100.00

$200.00

$300.00

$400.00

$500.00

$600.00

$700.00

$800.00

$900.00

$1,000.00

Ending Balance and Cumulative Interest

Ending Balance

Cumulative Interest